Dollar Losing Ground As The Week Draws To A Close
23 Juni 2017 - 04:11PM
RTTF2
The dollar is losing ground against its major European rivals
Friday afternoon, but is nearly flat in comparison to the Japanese
Yen. It was another light day on the U.S. economic front. Investors
have also been monitoring comments from several Fed officials at
the end of the trading week.
New home sales in the U.S. rebounded in May after a sharp
pullback in the previous month, according to a report released by
the Commerce Department on Friday. The Commerce Department said new
home sales climbed by 2.9 percent to an annual rate of 610,000 in
May from the upwardly revised April rate of 593,000.
Economists had expected new home sales to jump by 5.4 percent to
a rate of 600,000 from the 569,000 originally reported for the
previous month.
The dollar has dropped to around $1.12 against the Euro Friday
afternoon, its lowest level since Monday. The U.S. currency began
the day around $1.1145.
Eurozone private sector growth moderated in June from a six-year
high due to a slowdown in services activity, yet the economy
enjoyed the best quarter for six years, the flash data from the
Purchasing Managers' survey by IHS Markit showed Friday.
The composite output index fell to 55.7 in June from a joint
six-year high of 56.8 in May. The score was forecast to drop
moderately to 56.6.
Germany's private sector continued to expand in June but the
pace of growth was the weakest since February, flash survey data
from IHS Markit showed Friday. The composite output index fell to
56.1 in June from 57.4 in May.
The total value of new orders received by the German
construction industry increased in April, data from Destatis showed
Friday. The seasonally, working-day and price-adjusted orders in
construction rose 0.9 percent month-over-month in April.
Germany's real wages grew at a slower pace in the three months
ended March, figures from Destatis showed Thursday. Real wages rose
0.6 percent year-over-year in the first quarter, following a 1.1
percent increase in the previous quarter.
The French private sector grew at the weakest pace in five
months in June, flash survey data from IHS Markit showed Friday.
The composite output index dropped to 55.3 in June from May's
six-year peak of 56.9.
The French economy expanded more than previously estimated in
the first quarter, detailed report from the statistical office
Insee showed Friday. Gross domestic product grew 0.5 percent
sequentially, revised up from 0.4 percent estimated previously. The
pace of growth thus matched the rate seen in the fourth quarter of
2016.
The buck slipped to a low of $1.2744 against the pound sterling
Friday, but has since bounced back to around $1.2725.
British households perceived that the value of their home
increased in June, albeit at a slower rate than in the previous
month, survey figures from IHS Markit and Knight Frank showed
Friday. The Knight Frank/Markit House Price Sentiment Index, or
HPSI, declined to 53.3 in June. Any figure over 50 indicates that
prices are rising.
The greenback reached an early high of Y111.431 against the
Japanese Yen Friday morning, but has since retreated to around
Y111.280, nearly unchanged for the session.
Euro vs Sterling (FX:EURGBP)
Forex Chart
Von Feb 2024 bis Mär 2024
Euro vs Sterling (FX:EURGBP)
Forex Chart
Von Mär 2023 bis Mär 2024